- 09:08 AM Expect Nifty to roll towards 4025-4285: CLSA
- 09:01 AM Rupee opens at Rs 46.51 per dollar
- 09:00 AM Mkt likely to trade in range with -ve bias: Motila...
- 08:59 AM Ministry of Power approves REC FPO
- 08:59 AM India targets domestic demand; concerns on prices
- 08:59 AM Federal Reserve officials cautious on US economic ...
- 08:57 AM Nifty open interest PCR slips to 1.34 vs 1.42
- 08:48 AM 10-yr yield seen between 7.20-7.40%: ING Vysya Ban...
- 08:46 AM Rupee may appreciate today: N Subramaniam
- 08:44 AM Fund Action witnessed in Austral Coke, Polaris Sof...
New Delhi, Aug. 24:
ONGC Videsh Ltd (OVL), the overseas investment arm of exploration major ONGC, is expected to make a formal bid for Imperial Energy Corp soon.
‘Binding bid’
Sources told Business Line that the company has been examining various issues and a “binding bid” will be made soon.
London Stock Exchange (LSE) listed oil exploration and production company Imperial Energy has been attracting a lot of attention lately with major companies from Asia – India and China – pitching for stake.
Sources remained non-committal on the bid amount or speculations that OVL may rope in a strategic partner.
“It is a long process,” said a source, adding that apart from shareholders’ approval, a counter bid can also be submitted.
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Today's Special Column
with Ashok Gulati
International Food Policy Research Institute , Director in Asia
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